HiFX Morning Update, July 7

HiFX Morning Update, July 7

NZDUSD 0.6679 0.4%
NZDEUR 0.6043 0.0%
NZDGBP 0.4280 0.1%
NZDJPY 81.80 0.9%
NZDAUD 0.8911 -0.1%
NZDCAD 0.8453 1.0%

The NZDUSD opens 0.4% higher than yesterday at 0.6679

Greece is still hitting the headlines, the Greek Finance Minister Yanis Varoufakis resigned Monday despite the Greek people rejecting proposals by the creditors in Sunday's referendum. Greece is still receiving Emergency liquidity assistance at June 2015 levels .

Eurozone investor confidence improved from a four-month low despite Greece. Survey data from showed Monday, improvement to 18.5 in July from 17.1 in June. Albeit stock markets are volatile.

German investor confidence held steady at 26.8 in July.

US ISM Non-Manufacturing PMI business survey came in higher than May at 56% showing continuing growth in the sector. Business activity also increased 2%.

NZ Business confidence this morning at 10am and Australia has a cash rate announcement this afternoon.

Global equity markets are lower except Shanghai going against the trend at +2.41%
S&P -0.6% DAX -1.52% FTSE -0.76 CAC-2.01% Hang Seng -3.18%

The Gold price remains steady at $1168.82 an ounce, Oil (WTI) is down -7.45% at $53.04 a barrel

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